3 Day LIVE Landlord Certification Training in Louisville, KY

FLIPS and Rehabs, Question from Randy

FLIPS and Rehabs

Question from Randy:

When I buy a house to rehab and flip,
I enter the expenses of the rehab,
Do I enter it as an repair expense?

I do a close out report and I am showing a Capitalized expense,
I do not know how It got there. Help Please

Randy

ANSWER from Mike

I enter the expenses of the rehab “Improvements”

– NO, NO, NO
– when you buy any property,
everything and anything you do to or on this property…
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Q&A: Where to Enter Your Equity and Proper Use of CASH from Me

Where to Enter Your Equity and Proper Use of CASH from Me

  • with a dose of Crazy Advice from an Incompetent CPA

 

Question from Cassandra:

Hi Mike, I’m really enjoying your QuickBooksForInvestors system!!

Here’s my question….

I have heard you say you don’t bother with the Owner Equity account cause you let your CPA deal with that.

From Mike

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How To Handle Two or More Tax Returns in Your Investor Books Pro Company File (Multiple Entities)

How To Handle Two or More Tax Returns in Your Investor Books Pro Company File (Multiple Entities)

29 minute video shows you step by step

Anthony, this is an image below, it is not a video – it will never play

You Click The Link below this image to see the video

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How to Properly Enter Buying Real Estate with Seller Financing

How to
Properly Enter Buying Real Estate with Seller Financing
19 min video

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Earnest Money Paid To You When Selling a Property

How to Properly Enter

a $2,000 Earnest Money Check Paid to You

If You are a Licensed Real Estate Agent, You will deposit it into your Broker’s Escrow Account

QUESTION: 

Hey Mike,
I am doing a wholesale deal. I will be doing a double close on it.

I received a $2,000 non-refundable deposit (EM but paid directly to me).

How do I enter a transaction like this. I tried to look it up on the videos but the link is broken. Thanks for the help

I tried to look it up on the videos but could not find this one.

Thanks for the help

Anthony Cordova
Registered Active Single User License

7 min video

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Refinance including Cash Out ReFi’s

How To Properly Enter a Cash Out Refi

or any Refinance
18 minute video

Click the Link Below This Video To View

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